Sort of....I recently posted that the company did an MBO ie the management bought the company from its original owners. But this was a long time ago (over 10 years) and this (change) is just more of the strategy they've been employing since then which is to steadily renew, refresh and improve the company's product range.
The changes they've recently wrung have included getting shot of the Nova chuck range (Teknatool) in favour of a completely redesigned and engineered in the UK range of their own including all the jaws being redone too. I've seen this close up and they were well designed with a really useful set of jaws for a lot less cost than the Nova series. They've basically learned what was good and made that cutting out the middle man and rationalising the range to the most valuable jaws people really want. By positioning themselves as manufacturer they're removed a tier of distribution profit which means customers get the price benefit of the rationalisation. I think they've chosen Britain as the manufacturing base to compete with Axy for one but also just because they are a Sheffield heritage themselves and it's culturally the right thing to do. They've also substantially improved the entry level bandsaws in the Startrite range (for those who don't know RP own Startrite) and also changed the SD300 P/T to become the SD31
Lots of positive, well thought through changes to meet little market niches where gaps exist at sensible prices. I think the chucks will sell well as they've got the quality of the Axy chucks (perhaps slightly lower par in fact) but they're a lot less expensive.
They recently acquired Camvac so they're very serious about supplying decent product to the wood turning market and I think this change to the CL range just reflects more intelligent thinking about improving the range by adopting industry standard specs (ie M33 and MT2 but that remains to be seen as I'm guessing).
I really like them as a company, I love that 5 year warranty because I just don't have to worry about things going wrong and they have real zeal and direction of late. And of course despite the importation of many things Chaiwanese, they are in fact British